Month: February 2023

Cottage Industry: An Overview of Small-Scale Manufacturing

  • Norma
  • February 27, 2023
  • 0

Cottage Industry: An Overview of Small-Scale Manufacturing

The cottage industry, also known as home-based or rural manufacturing, refers to the production of goods in small quantities by individuals or families in their own homes or small workshops. In the past, cottage industries were prevalent in many parts of the world, where people used to produce a variety of handmade products, such as textiles, pottery, and handicrafts. Today, the cottage industry has evolved into a small-scale manufacturing sector that plays a vital role in the local economy. In this article, we will explore the history, benefits, and challenges of cottage industries, along with some examples of successful cottage industry businesses.

History of the Cottage Industry

The concept of the cottage industry dates back to the Middle Ages when families used to produce goods in their homes to supplement their income. The Industrial Revolution brought a significant change in the manufacturing sector, and the traditional cottage industries were replaced by large-scale factories. However, the idea of the cottage industry was revived in the 20th century, and today it is a thriving sector, especially in developing countries.

Benefits of the Cottage Industry

The cottage industry has several advantages, both for the producers and the consumers. For the producers, it … Read More

Public Sector Banks recover ₹6.4l cr NPAs, written-off loans

  • Norma
  • February 17, 2023
  • 0

The public sector banks (PSBs) have recovered ₹6.42 lakh crore of non-performing loans and written-off loans since FY15 and filed suits against 98.5% of wilful defaulters, data available with the government showed.

Over FY16 to FY21, the government has infused ₹3.36 lakh crore of capital in PSBs while the banks themselves have raised an additional ₹2.99 lakh crore from the markets.

The provision coverage ratio of the PSBs, a measure of health that captures amounts set aside to cover bad loans, has improved to 86.9% at the end of March 2022 from 46% at the end of March 2015.

The state-run banks have recovered ₹5.17 lakh crore in non-performing assets (NPAs) and ₹1.24 lakh crore in written-off accounts since FY15.

The gross NPA ratio of PSBs has fallen from 14.6% on March 31, 2018, to 7.4% on March 31, 2022, while the net NPA ratio declined from 8% to 2% over this period. Stressed assets are down from 15.3% to 8.7%.

“Banks continue to pursue recovery actions initiated in written-off accounts through various recovery mechanisms available,” a senior government official said.

These include recovery suits in civil courts or Debts Recovery Tribunals, action under the Securitisation and Reconstruction of Financial

… Read More

ONGC board rejig: Two director posts set to be merged

  • Norma
  • February 15, 2023
  • 0






The board of Oil and Natural Gas Corporation (ONGC) is being revamped by merging two directorships into one and creating a new position of director for corporate affairs in an attempt to breathe fresh life into the state-owned behemoth that is increasingly looking beyond oil and gas, sources said.


ONGC board presently has six directors for exploration, onshore operations, offshore operations, finance, human resources, and technical and field services. It used to be headed by a chairman and managing director (MD). The government earlier this month appointed Arun Kumar Singh, who had recently retired as head of oil refining and fuel marketing company BPCL, as the


chairman of ONGC but not as its MD.


A post of director (production) has been created after merging director (onshore), who is in charge of all oil and gas fields located on land, and director (offshore) who looks after all offshore assets such as the prime Mumbai High fields, two sources aware of the matter said. A new position of director (strategy & corporate affairs) has also been created.


The post of director (production) will come into effect from March 1, 2023. The

… Read More

Railways readies ₹18,000-crore plan for upkeep of Vande

  • Norma
  • February 14, 2023
  • 0

 

The Indian Railways has drawn up a plan of about ₹18,000 crore to scale up its locomotive maintenance facilities for Vande Bharat trains, eyeing an increase in deployment of these semi-high-speed trains to more parts of the country.

The upgradation will enable speedier expansion as the lack of adequate maintenance depots across the country has emerged as a key roadblock in the roll-out of these trains in many parts of the country.

“The depot upgrade works will be carried out across the country to ensure that the Vande Bharat trains that are planned for introduction over the coming months can be maintained appropriately,” a senior railways ministry official told ET on condition of anonymity.

 

Railways readies ₹18,000-crore plan for upkeep of Vande

In his Independence Day address in 2021, Prime Minister Narendra Modi had announced that 75 Vande Bharat trains would connect every corner of the country. A year later, railways minister Ashwini Vaishnaw said 75 of these trains would be introduced by August 2023.

At present there are seven Vande Bharat Express trains running on the Indian Railways network, with the latest, flagged on December 30, connecting Howrah Railway Station to New Jalpaiguri.

According to the Railway Board, there are 58 maintenance coaching depots or

… Read More